Fully Leased 8-Unit Apartment
1075 7th Ave NW Hickory, NC 28601
1075 7th Ave NW, Hickory, NC, 28601
Contact for pricing
For Sale
Contact for pricing
All-brick 8-unit property with recently replaced roof, currently fully leased at 100% occupancy.
Property Size5,632 SF
Price / SF$186.43
Days on Market120
Property Features for 1075 7th Ave NW
General Information
- Standard status
- Active
- Size
- 5,632 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agency
C Rice and Associates
(828) 502-9197
Listed by
Caleb Rice · License #NC 299802
Source
Crexi
Added: Mar 26 Updated: Jul 22 at 10:53PM Checked: Jul 22 at 10:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of C Rice and Associates
Investment Insights
Based on property information with market context.
This fully leased 8-unit apartment building features an all-brick exterior and a recently replaced roof. The property is currently 100% occupied and supported by a solid rent roll, offering a stable, turnkey setup for an investor or buyer seeking immediate income.
Located in Hickory, NC, the building is described as being in the heart of the city, just steps from the Riverwalk and major community developments. The surrounding area’s continued activity is positioned as a backdrop for long-term hold.
The building is configured as 2-bedroom, 1-bath units across all eight apartments, providing a consistent unit mix within a single, well-maintained multifamily asset.
Located in Hickory, NC, the building is described as being in the heart of the city, just steps from the Riverwalk and major community developments. The surrounding area’s continued activity is positioned as a backdrop for long-term hold.
The building is configured as 2-bedroom, 1-bath units across all eight apartments, providing a consistent unit mix within a single, well-maintained multifamily asset.
Key Highlights
- All‑brick 8‑unit property built in 1970
- Recently replaced roof
- Fully leased with 100% occupancy
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.2k | $16.20 |
| − Vacancy | −$5.3k | −$0.94 |
| EGI | $85.9k | $15.26 |
| − OpEx | −$38.7k | −$6.87 |
| NOI | $47.3k | $8.39 |
5,632 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$675.3K
$590.9K – $787.9K
NOI $47,271 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,163 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - All-brick 8-unit property with recently replaced roof, currently fully leased at 100% occupancy.
Where is this multifamily property located?
The property is located at 1075 7th Ave NW Hickory, NC.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: All‑brick 8‑unit property built in 1970; Recently replaced roof; Fully leased with 100% occupancy
